Hillary for America

"Arrogant" +

0:30 ad run on national cable from Oct. 3, 2016.  

Hillary Clinton (voiceover):  I'm Hillary Clinton and I approve this message.

[Music]

Female Announcer:  You work hard.  You pay your taxes.  So why didn't Donald Trump pay his?

He claims he's worth $10 billion, but a new report shows he may not have payed any federal taxes for almost 20 years.

clip from debate...
Clinton:  He didn't pay any federal income tax... 
Trump:  That makes me smart.

Female Announcer:  If he thinks that makes him smart, what does he think of you.

Trump (clip):  How stupid are the people of the country...?


Notes:  The Oct. 3 press release...

NEW TV AD: Trump’s Not-So-Smart Tax Return Boast

Today, Hillary for America released a new TV ad that will run on nationwide cable exposing Trump for bragging about not paying federal taxes. Over the weekend, the New York Times dropped a bombshell report that uncovered parts of Trump’s 1995 tax returns and revealed that it is entirely possible that he avoided paying any federal income taxes for 18 years. Trump says not contributing makes him “smart” which shows he is completely comfortable with paying zero dollars to support our troops, schools, veterans, and healthcare system. As Hillary Clinton stated “If not paying taxes makes him smart, what does that make the rest of us?”

What We Know About Trump’s Taxes

Trump Declared Nearly A Billion Dollar Loss In 1995 Which May Have Allowed Him To Avoid Federal Income Taxes For 18 Years, He Also Paid Nothing Or Near Nothing At Least Five Years

HEADLINE: "Trump Tax Records Obtained By The Times Reveal He Could Have Avoided Paying Taxes For Nearly Two Decades." [New York Times, 10/1/16]

New York Times: “Trump Declared A $916 Million Loss On His 1995 Income Tax Returns, A Tax Deduction So Substantial It Could Have Allowed Him To Legally Avoid Paying Any Federal Income Taxes For Up To 18 Years.” "Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show." [New York Times, 10/1/16]

-Tax Experts Said That Trump Could Use A 1995 Claimed Loss Of $916 Million To Write Off The Equivalent Amount Of Taxable Income Over An 18-Year Period. "Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said tax rules that are especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period." [New York Times, 10/1/16]

-A $916 Million Loss Would Have Allowed Trump To Cancel Out $50 Million A Year In Taxes For 18 Years. "Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years." [New York Times, 10/1/16]

Prior To The New York Times Story, We Knew Of At Least Five Years In Which Trump Paid Nothing, Or Nearly Nothing, In Federal Income Taxes

Washington Post: In 1978, 1979, 1984, 1991, And 1993 “He Did Not Pay Any (Or Nearly Any) Income Taxes.” “Here’s a look at what we know about Trump’s taxes: He did not pay any (or nearly any) income taxes at least five times in the past 40 years. […] Trump’s tax returns, examined by the New Jersey Casino Control Commission in 1981, showed that he paid $0 in federal income taxes in 1978 and 1979, The Washington Post found. […] The next record available is from 1984, when Trump also reported no income. […] There were at least two years in the early 1990s when Trump appeared to have paid zero, or nearly zero, personal income taxes, Politico reported. […] Politico reviewed documents covering Trump’s tax liability in 1991 and 1993, as maintained by the New Jersey Division of Gaming Enforcement and the Casino Control Commission.”  [Washington Post, 5/20/16]